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Mutual Funds and Exchange-Traded FundsBuilding Blocks to Wealth$
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H. Kent Baker, Greg Filbeck, and Halil Kiymaz

Print publication date: 2015

Print ISBN-13: 9780190207434

Published to Oxford Scholarship Online: November 2015

DOI: 10.1093/acprof:oso/9780190207434.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 15 May 2021

Mutual Funds

Mutual Funds

Management Styles, Social Responsibility, Performance, and Efficiency

15 Mutual Funds
Mutual Funds and Exchange-Traded Funds

Tamas Barko

Luc Renneboog

Oxford University Press

The mutual fund industry represents a substantial part of global financial markets with approximately 20 percent invested in mutual funds. Mutual funds offer a simple and easy-to-understand way to invest either into stocks or fixed income products, both for retail and institutional investors. This chapter provides an overview of the literature on the performance of actively and passively managed mutual funds with special emphasis on socially responsible funds. First, the chapter offers insights into the mutual fund industry worldwide and discusses the characteristics of active and passive management. Then the chapter discusses a prominent management style—SRI. The final sections review the efficiency of the mutual fund industry, performance measurements, and sources of returns and outperformance.

Keywords:   mutual funds, active and passive management, socially responsible funds, performance measurements, efficiency

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